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"The Department of Justice (DoJ) has gone after other celebrities who received gifts from the star-struck Low. Leo DiCaprio turned over Picasso and Basquiat paintings. Miranda Kerr parted with $8mil (RM33.16mil) in diamond jewellery.

"But there are many other celebs, including Swizz Beatz, Pras Michel and Nicole Scherzinger, who received less valuable gifts," Page Six reported.

The report added that the DoJ did not say whether it would try to recover the Ferrari or the other gifts Low gave other celebrities.